The 2022 Zero-Emission Vehicles Factbook research by BloombergNEF revealed that the shift to ZEV has improved for the past year throughout all categories and markets, as reported by CleanTechnica. The research was released at this year’s COP27 in Egypt.
According to the ZEV Factbook, the trend toward zero-emission mobility has picked up speed worldwide through 2022. Furthermore, passenger electric vehicle sales are expected to surpass 10 million units in 2022, up from 6.6 million units sold in 2021.
It is also worth noting that worldwide new electric car sales last year were just 8.7%, while just the first half of 2022 saw new electric car sales reach above 13%.
The capacity to produce li-ion batteries has also considerably improved, rising by 38% from 2021. Meanwhile, over $450 billion is expected to be spent globally this year on clean road transportation.
The BNEF and the Accelerating to Zero Coalition collaborated to establish the Zero-Emission Vehicle Factbook. They have collaborated with Bloomberg Philanthropies to align with COP27, the 2022 United Nations Climate Change Conference.
At COP26 in Glasgow, the first ZEV Factbook was made public. Its 2022 edition details the advancements made toward attaining net-zero emissions for the worldwide electric transportation sector.
According to the report, oil consumption and carbon dioxide emissions have decreased due to the ZEVs. By the end of this year, it is anticipated that 1.7 million barrels of oil will be unused. This figure shows an increase from the 1.5 million barrels per day that were not needed or used in 2021.
Notably, various electric vehicles kinds were used in the data. Among them were cars, buses, motorbikes, scooters, vans, and trucks.
Currently, these electric vehicles save 152 million metric tons of CO2 annually, with Asia’s sizable fleet of electric two- and three-wheelers contributing the most.
COP26 President Alok Sharma gave a heartfelt welcome to the Zero-Emission Vehicle Factbook:
“We are delighted to welcome the publication of BloombergNEF’s Zero-Emission Vehicles Factbook, to mark the launch of the Accelerating to Zero Coalition. The Accelerating to Zero Coalition is a new partnership between initiatives to align activities and amplify messages to grow the group of leaders committed to an accelerated zero-emission vehicle transition.”
“The BNEF Factbook shows that, despite the global energy crisis, the zero-emission vehicle transition has continued to accelerate since we launched the ZEV declaration at COP26. It also highlights that the ZEV transition is key to permanently ending our dependence on oil,” said Sharma.
Governments targets to phase out sales of internal combustion engine vehicles in 2035, and automaker commitments
Approximately 41% of the world’s passenger vehicle market will be covered by the national targets announced by automakers and governments to phase out internal combustion engines by 2035.
Furthermore, 23% of the market is accounted for by automakers planning to phase out ICE by 2035, up slightly from 19% in 2021. However, it climbs to 30% when the goals set by the automakers for 2040 are considered.
Source: BloombergNEF. Note: “Europe” includes various national combustion vehicle phase-out targets in the EU27, the UK, Norway, and Iceland. The remaining 18 EU countries come under the EU’s planned 2035 phase-out. The figure for the US is based on the partial 2030 target of 50% of sales to be electric. China’s figure is based on the partial 2030 target of new energy vehicles (NEVs) to make up 40% of sales. “ROW ICE phase-out countries” include Israel, Canada, Singapore, Chile, and Cape Verde.
“While many of the indicators in this report are pointing in the right direction, most countries still have a long way to go before we can be confident that we are on track for a net-zero emission transport sector by mid-century,” stated O’Donovan.
The report also suggested that national, regional, and local governments must maintain their vision. They must put in solid, long-term policies that encourage the expansion of zero-emission transportation and control the phase-out of ICE vehicles.
“We call on more actors to come forward next year and make and implement ambitious commitments to transition to zero-emission vehicles and reap the benefits of cleaner air, jobs, economic growth, and keeping our Paris Agreement goals within reach,” added Nigel Topping, UN Climate Change High-Level Champion for the UK at COP26.
You can download the entire ZEV Factbook by clicking on this link.